By H. Sterling Burnett • Investor’s Business Daily
Recently, Real Clear Energy published a thoughtful analysis of carbon taxes authored by Vince Ginn and Jonathan Williams, allies of mine in the fight to promote individual liberty, constitutionally limited government, and U.S. energy dominance.
As Ginn and Williams show, the case for taxing greenhouse gas (GHG) emissions — intentionally and misleadingly called a “carbon tax” — is fundamentally flawed and, accordingly, has been rejected every time Congress has considered one. For instance, in 2009 and 2010, President Obama and Democrats, despite having control of Congress, failed to pass climate change legislation.
Ginn and Williams rightly note a carbon tax would raise energy prices, meaning it would increase the price of almost everything. Indeed, according to a 2014 Heritage Foundation analysis, the creation of a $37-per-ton carbon tax would lead to a loss of more than $2.5 trillion in aggregate gross domestic product, amounting to $21,000 in lost income per family by 2030.
In addition, a carbon tax would result in a loss of more than 1 million jobs, including 500,000 manufacturing jobs, by 2030.
Energy prices will rise as large, coal-fired power plants are taken off line without a credible plan to replace them. Eliminating one-third of America’s coal plants is a choice for Congress to make, not the EPA.
President Barack Obama, in presenting his strident new plan to reduce carbon emissions, is touting the health benefits of cleaner air. And there’s little doubt shutting down one-third of the nation’s coal plants will make America’s air cleaner and some people healthier.
But it will also risk making them hungrier, less prosperous and more likely to be unemployed as the nation’s economy slows and jobs disappear. The tough, new restrictions on smokestack emissions are the latest in a series of battles in the administration’s war on coal. Continue reading
by Ben Geman
EPA’s big new draft regulations to cut power-plant carbon dioxide emissions name-check all kinds of tools that states can use to comply with the standards.
They include renewable-power growth, efficiency programs, switching coal plants to natural gas, and cap-and-trade initiatives, which are already underway in California and among Northeastern states. Not mentioned: Imposing state-level carbon taxes on power-plant emissions.
It’s not something the agency is likely to tout at a time when top Republicans are already trying to frame the whole rule as a “national energy tax.” But EPA officials, when asked, made it clear Monday that a state could indeed choose to go the carbon tax route. Continue reading
It is not surprising that there are liberals in Washington proposing new stealth carbon taxes. What is surprising is that a few “conservatives” support the idea. Even more inexplicable is the fact that some have called the carbon tax a “once in a generation opportunity.”
Let me see if I’ve got this right. A huge, gargantuan tax increase — one that would make everything cost more — is a “once in a generation opportunity?”
Every single day for the last 30 years and every single day for the next 30 years, liberals will crawl over top of each other to be the first one to sign-on to a new energy tax. This is a deal that liberals will always be willing to give. Continue reading
The economy is not some theoretical concept or ivory tower idea. A strong economy means that Americans have jobs and growing incomes. It means that families can provide their children with the care and opportunities that will provide for a bright future. Conversely a weak economy means fewer jobs and less opportunity. It means lower incomes and it means that families have to do without.
Too often big government slows the economy by taxing and spending too much. Those who support more and more government taxes and spending always argue that government can do something good with the money. But the problem with that argument is that families and businesses also can do a lot of good with that money if government doesn’t take it away from them. Continue reading